< The 2014 All-Europe Research Team

Jeffrey Stent & team
Exane BNP Paribas
First-place appearances: 0

Total appearances: 3

Team debut: 2012

The Exane BNP Paribas pair led by Jeffrey Stent improves another notch this year, rising to second place from third; the analysts debuted in 2012 at runner-up. Based in London, the researchers earn praise for providing “clean investment theses and company valuations,” in the words of one portfolio manager. Over the past year they have reduced their food producers portfolio from 15 companies to seven — and the sector, says Stent, is “facing a relatively tough cocktail of continued tough developed markets, slowing emerging markets and a relatively benign input-cost environment.” Overall, he notes, “2014 is unlikely to be a vintage year from an operational perspective.” One company that does stand out for the pair is U.K.-based Associated British Foods. “The group is now quickly morphing from being a food-based conglomerate to being a very fast-growing clothing retailer,” Stent explains, through its retail division, Primark.